The Government approved the modernization of Cugir Mechanical Plant, the investment amounting to about 410 million RON, and the project is set to run for three years, the spokesman of the Executive, Mihai Constantin, announced."After the recent approval of the Defence Industry Strategy and the investment location in "Victoria" gunpowder factory announced last weeks, a new project has received today the Government's approval in this field of arms manufacturing, namely the modernisation of the Cugir Mechanical Plant in order to increase the production capacity and diversify the range of NATO ammunition," Constantin said.He said that the investment is worth about 410 million RON and will be financed from the state budget, with the project duration estimated at 36 months, three years."The reorientation towards a modernised production line at the Cugir Mechanical Plant will lead to increased operational efficiency, quality standardization, and will bring benefits to the safety and flexibility of production there. Additionally, for context, the defence industry sector is a strategically important segment of our economy and is meant to support the country's defence preparedness effort, so as to meet its own needs and honour the obligations assumed by our country as a NATO member," Mihai Constantin added.
Gold has been one of the most sought-after assets for centuries, and in the modern era, it has become a highly popular component of investment portfolios. A preferred asset for protection against economic risks, gold has delivered attractive long-term returns, increasing by approximately 8% per year over the past two decades. Since the end of […]
JTI Romania is the Top Employer for the 12th year in a row, being ranked third amongst 44 companies locally awarded, after an assessment conducted by the Top Employers Institute. The company was rated for about 20 criteria such as leadership, talent acquisition, on-boarding, digital HR, work environment, career development, learning, ethics & integrity, diversity, […]
Romanian defense minister Angel Tîlvăr stated that the contract for the Patriot system, which will replace the one ceded by Romania to Ukraine, is expected to be signed in February. The minister commended the decision of the United State government to approve the delivery of three Patriot systems to Romania. Raytheon stated it will collaborate […]
Romanian companies are entering 2025 with cautious optimism, focusing on managing risks and controlling costs, according to the Deloitte 2025 Romania CFO Survey conducted at the end of last year among approximately 130 Chief Financial Officers (CFOs). Most of the Romanian CFOs predict an increase in revenues for this year (58%), but their share has […]
Several employees of the Romanian Senate began protesting and booing while the president of the upper Chamber was announcing that staff restructuring would be implemented to reduce public spending. Ilie Bolojan, president of the National Liberal Party and head of the Senate, announced a reduction in the organizational chart from 796 positions to 618 positions. […]
The members of the Romanian angel investor network TechAngels put EUR 2.757 million in direct investments in tech startups in the second half of 2024, almost triple the amount invested in the year's first half. The investments for the entire 2024 rose to EUR 3.777 million, a 25% year-on-year increase. The rounds backed by TechAngels […]
